Life & Health Insurance

Ohlert-Ruggiere, Inc. has the capability to write life and disability insurance with most of the major carriers.

We can also write Long Term Care insurance (LTC) and Travel Medical Insurance.

Term Insurance

Term insurance is a policy with a set term period (10, 20, 30 yrs) and it has a level death benefit. The death benefit expires when the policy term expires although some policies allow for a conversion to permanent insurance. There is no cash value. Term is the cheapest form of coverage and gives you a lot of “bang for your buck”. This is a risk protection product.

Return of Premium Term (ROP)

A return of premium term (ROP) policy has the same attributes as a term policy. Though higher in cost, this policy returns all of the premiums paid back to the insured at the end of the term period. This is also a risk protection product, however premiums returned can be used for retirement income, annuity, or may be rolled over into a permanent policy which could be used to satisfy wealth preservation needs.

Universal Life Insurance

Universal life is a flexible, permanent life insurance policy offering the low-cost protection similar to term life, as well as a cash accumulation element that is invested to provide a cash value buildup. Universal life policies can also be designed with: a specific number of years to pay premiums thus providing paid-up coverage; specific premium amounts earmarked for cash accumulation; and an age until which the policy will run and then provide a death benefit. All of these factors have an effect on projected premiums. It is important that a universal life policy be a guaranteed universal life policy, providing growth at a rate of interest guaranteed for the life of the policy. This will help prevent increases in premium. A universal life policy can satisfy both risk protection and wealth preservation needs.

Whole Life

Whole life can offer an appealing and tangible benefit of guaranteed cash value. The low risk of whole life is reflected in its higher premiums but what makes those premiums high is the fact the whole life is a life insurance policy coupled with a savings plan that accrues dividends at a guaranteed rate as well as possibly higher non-guaranteed gains. The cash accumulated can be quite substantial and can be borrowed against. Depending on the dividends accrued, this is a contract that could endow early, providing paid-up coverage. Alternately, the death benefit could continue to grow past the original contract value. Another appeal of whole life is that premiums will never increase. Whole life provides a high degree of safety and security with lots of cash value.

Disability Insurance

Disability coverage is arguably just as important as life insurance, especially long term disability insurance. Realistically no working-age individual should be without disability coverage. In fact, at any given time, a person has a greater chance of becoming disabled than of dying. Disability plans provide income replacement and benefits continuation if a person is unable to work for a period of time. Coverage of this type means that you and your family can maintain your standard of living.

Long-Term Care Insurance

Requiring long-term care can be a wrenching life event, both financially and emotionally, and it can affect an entire family. Long-term care insurance helps pay for both medical and non-medical expenses when you begin to receive long-term care benefits. Medicare can provide a good start but it is far from being complete coverage. Did you know that costs associated with care received in an assisted living facility, a nursing home, or in-home care, are generally not covered by Medicare? That’s a scary thought! Long-term care coverage can help those costs from depleting you and your family’s hard-earned savings. Additionally, long-term care insurance allows for in-home care which is always preferable over a nursing home. An important rule to remember is that buying a policy for two (a couple) is always cheaper than buying for an individual. Unfortunately most people begin thinking of long-term care too late when their age and existing medical conditions make pricing either prohibitive or out of reach altogether. Call today to discuss this valuable type of coverage.

Travel Medical Insurance

Do you think it is important to have travel medical insurance? Perhaps the better question is whether you are prepared to travel without it. While international travel can be interesting, fun and exciting, it is important not to ignore the real risks travelers may face. Will your local insurance company be prepared to assist you if you fall ill or get injured while travelling? Many health insurance plans have restrictions on out-of-the-country injuries. Be confident when you arrive in another country that you enjoy the security of the finest travel medical insurance protection available in the market today.